Chile's development comes paired with that of blighted areas

Only 10 percent of 46,423 homes had access to drinking water, according to housing authorities.

Despute being one the most stable economies in the region, shanty town developments are also on the rise in Chile. Immigration and other factors have contributed to the downside of prosperity.

Chile's housing authorities reported Wednesday the number of slums has nearly doubled since 2011 as an influx of migrants increasingly face a lack of low-income housing and rising rents.

According to Chile's Housing Ministry, 822 slums have been spotted where basic services like water, sewage and electricity are not available, which represents an increase of 78 percent from 2011.

A total of 46,423 homes were found to be extremely precarious, the ministry said in a statement, of which only 10 percent had access to drinking water.

Chile and other comparatively wealthy Latin American nations are absorbing a wave of mass migration from destitute nations in the region such as Haiti and Venezuela, increasing demands on social services.

Immigration into Chile has increased more than sixfold in around 25 years, from 114,500 in the 1992 census to 746,465 last year.

Chile has the highest GDP (gross domestic product) per capita in South America, low levels of corruption and the lowest murder rate, according to figures from the World Bank and InSight Crime, a foundation that analyses organized crime.

All these factors explain why Chile has become the first destination of choice for those leaving their homes behind in search of a better life.